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Here's Why Shell (SHEL) Gained But Lagged the Market Today
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In the latest market close, Shell (SHEL - Free Report) reached $72.93, with a +0.48% movement compared to the previous day. This move lagged the S&P 500's daily gain of 1.02%. Elsewhere, the Dow gained 1.09%, while the tech-heavy Nasdaq added 1.18%.
Shares of the oil and gas company witnessed a gain of 3.26% over the previous month, beating the performance of the Oils-Energy sector with its loss of 11.98% and underperforming the S&P 500's gain of 4.44%.
The investment community will be closely monitoring the performance of Shell in its forthcoming earnings report. The company is scheduled to release its earnings on August 1, 2024. The company's upcoming EPS is projected at $1.96, signifying a 30.67% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $88.71 billion, indicating a 16.69% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.55 per share and a revenue of $357.58 billion, signifying shifts of +1.79% and +10.64%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Shell. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.15% higher within the past month. Shell is currently a Zacks Rank #3 (Hold).
Digging into valuation, Shell currently has a Forward P/E ratio of 8.49. This denotes a premium relative to the industry's average Forward P/E of 7.59.
Also, we should mention that SHEL has a PEG ratio of 1.83. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Integrated - International industry stood at 1.84 at the close of the market yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why Shell (SHEL) Gained But Lagged the Market Today
In the latest market close, Shell (SHEL - Free Report) reached $72.93, with a +0.48% movement compared to the previous day. This move lagged the S&P 500's daily gain of 1.02%. Elsewhere, the Dow gained 1.09%, while the tech-heavy Nasdaq added 1.18%.
Shares of the oil and gas company witnessed a gain of 3.26% over the previous month, beating the performance of the Oils-Energy sector with its loss of 11.98% and underperforming the S&P 500's gain of 4.44%.
The investment community will be closely monitoring the performance of Shell in its forthcoming earnings report. The company is scheduled to release its earnings on August 1, 2024. The company's upcoming EPS is projected at $1.96, signifying a 30.67% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $88.71 billion, indicating a 16.69% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.55 per share and a revenue of $357.58 billion, signifying shifts of +1.79% and +10.64%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Shell. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.15% higher within the past month. Shell is currently a Zacks Rank #3 (Hold).
Digging into valuation, Shell currently has a Forward P/E ratio of 8.49. This denotes a premium relative to the industry's average Forward P/E of 7.59.
Also, we should mention that SHEL has a PEG ratio of 1.83. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Integrated - International industry stood at 1.84 at the close of the market yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.